Nuveen Asset Management LLC Increases Stake in Doximity, Inc. (NASDAQ:DOCS)

Nuveen Asset Management LLC raised its stake in shares of Doximity, Inc. (NASDAQ:DOCS - Free Report) by 48.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 464,658 shares of the company's stock after purchasing an additional 150,734 shares during the period. Nuveen Asset Management LLC owned 0.25% of Doximity worth $24,808,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC raised its holdings in Doximity by 37.6% during the 4th quarter. FMR LLC now owns 9,409,313 shares of the company's stock valued at $502,363,000 after buying an additional 2,571,580 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of Doximity by 708.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,510,416 shares of the company's stock valued at $80,641,000 after buying an additional 1,323,634 shares during the last quarter. Invesco Ltd. grew its position in Doximity by 525.1% in the 4th quarter. Invesco Ltd. now owns 1,272,403 shares of the company's stock valued at $67,934,000 after acquiring an additional 1,068,849 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Doximity by 1,178.3% in the fourth quarter. Franklin Resources Inc. now owns 1,062,211 shares of the company's stock worth $56,711,000 after purchasing an additional 979,113 shares during the last quarter. Finally, Fundsmith LLP bought a new stake in Doximity during the 4th quarter valued at about $37,934,000. Hedge funds and other institutional investors own 87.19% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on DOCS. KeyCorp dropped their target price on shares of Doximity from $83.00 to $70.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Canaccord Genuity Group dropped their price objective on Doximity from $71.00 to $50.00 and set a "hold" rating on the stock in a research note on Friday, May 16th. Truist Financial decreased their target price on Doximity from $58.00 to $52.00 and set a "hold" rating for the company in a research report on Friday, May 16th. Needham & Company LLC dropped their price target on Doximity from $82.00 to $67.00 and set a "buy" rating on the stock in a research report on Friday, May 16th. Finally, Leerink Partners upgraded Doximity from a "market perform" rating to an "outperform" rating and raised their price target for the company from $60.00 to $90.00 in a research note on Friday, February 7th. Eleven analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Doximity currently has a consensus rating of "Moderate Buy" and an average price target of $61.89.

Insider Buying and Selling

In related news, Director Kira Scherer Wampler sold 2,000 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $56.93, for a total value of $113,860.00. Following the transaction, the director now directly owns 16,618 shares in the company, valued at approximately $946,062.74. This represents a 10.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Anna Bryson sold 45,000 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $57.23, for a total transaction of $2,575,350.00. Following the completion of the sale, the chief financial officer now owns 357,165 shares in the company, valued at approximately $20,440,552.95. This trade represents a 11.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 37.40% of the company's stock.

Doximity Price Performance

DOCS stock traded down $0.25 during mid-day trading on Wednesday, reaching $51.85. 383,247 shares of the company's stock were exchanged, compared to its average volume of 2,089,691. Doximity, Inc. has a 12-month low of $25.00 and a 12-month high of $85.21. The stock's 50 day moving average is $55.91 and its 200 day moving average is $58.19. The company has a market cap of $9.68 billion, a price-to-earnings ratio of 51.79, a price-to-earnings-growth ratio of 4.10 and a beta of 1.41.

Doximity (NASDAQ:DOCS - Get Free Report) last announced its earnings results on Thursday, May 15th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.11. Doximity had a return on equity of 21.75% and a net margin of 36.60%. The firm's revenue was up 17.1% on a year-over-year basis. During the same quarter last year, the business posted $0.25 EPS. On average, research analysts forecast that Doximity, Inc. will post 0.99 earnings per share for the current fiscal year.

About Doximity

Doximity, Inc operates a cloud-based digital platform for medical professionals in the United States. The company's platform provides its members with tools built for medical professionals, enabling them to collaborate with their colleagues, coordinate patient care, conduct virtual patient visits, stay up to date with the latest medical news and research, and manage their careers.